The global E-SIM card market is anticipated to see a rise in level of new players all across the world. This will lead to a healthy competition among the major players. In order to expand, the global players are going in a strategic partnership with the regional players. All players are funding heavy on research and development in order to innovate or advance their products in order to build the brand’s name and grow trust among the consumers. The market is expected is anticipated to grow at an exponential rate, reports Transparency Market Research (TMR) in a recent report. Some of the major companies leading in the global E-SIM card market are OT-Morpho, Deutsche Telekom AG, Giesecke and Devrient GmbH, ST Microelectronics, Sierra Wireless, NTT DOCOMO, Samsung, Apple Inc., Gemalto N.V., and Telefonica S.A.
The Global E-SIM market is expected to witness an impressive 13.5% of CAGR during the period from 207 to 2025. During this time the market anticipated to be worth around US$14613.1 mn by 2025 from US$4095.6 mn in 2016.
The E-SIM card finds application in machine to machine domain, which has accounted for the highest share in terms of revenue amongst other. This segment is expected to retain its dominance during the forecast period. The smartphone segment is predicted to be most progressive segment by the year 2019. Rise in growth of smartphones is expected to expand the global E-SIM card market at a CAGR of 26.3% during the assessed period. Geographically, Europe is predicted to hold the leading position in terms of revenue contribution in the market. Government policies in this region is favoring the growth of the market.
Ability to Switch Between Network Providers Helps The Market To Grow
Numerous factors are contributing to the rise in demand for the global E-SIM card market. Amongst these factors, the option of changing network providers in real time Over the Air, is the key factor which is making users to pick this E-SIM card over the traditional one. This ability helps to change the network providers to switch between network provides, thus preventing them from suffering loss from international roaming charges.
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This facility turns out to be game changer for people having smart meters and connected cars, as this helps reducing logistics and operational costs. Other factors which drives the market growth is that the E-SIM card provides better securities in comparison to conventional SIM Card thus attracting huge crowd who have concern regarding securities. Design of E-SIM card favors the market growth, as the compact design of it helps OEMs, thus making additional space for storage or increasing the size of the battery in smartphones and tablets.
Rise in Automotive Industry to Fuel the Market Growth
Rise in uptake of E-SIM in consumer electronics devices and automotive industry has fueled the growth of the global E-SIM card market. Use of E-SIM in advanced vehicles has already set an ongoing trend in developed countries. As, a result, rise in automotive industries to directly have a positive impact on the growth of the market. However the market is expected to face a possible restrain by MNOs during its adoption as it thwarts consumers from visiting to a network provider’s store. This will cut down the customer’s bargaining power.